street boy no laptop : June 2016

Friday 24 June 2016

Owner Tried To Use BHS Money For Holiday

BHS owner Dominic Chappell tried to pay for family holiday flights on the company travel budget just four months before its collapse, according to new evidence given to MPs.

A letter submitted by the retailer's chief executive Darren Topp said Mr Chappell "saw no distinction between the company's money and his own personal money" and that he "saw them as one and the same".

It said Mr Chappell's Retail Acquisitions Limited (RAL) vehicle, which bought BHS for £1, had taken £17m out of the business and that this - together with its failure to raise finance for the business - was to blame for its eventual collapse.

Mr Topp's claims - made in a letter to an inquiry by two parliamentary committees - add to his sharp criticism of Mr Chappell in front of MPs earlier this month.

BHS was sold to the former bankrupt by billionaire retailer Sir Philip Green last year. It collapsed into administration in April. In June it was announced that the business was being wound down after administrators failed to find a buyer - leaving 11,000 jobs likely to be lost.

Mr Topp's evidence said that months earlier, in December 2015, Mr Chappell had "attempted to buy a set of family holiday flights on the company travel budget".

It added: "This was spotted by Darren Topp and stopped immediately much to the annoyance of Chappell."

The letter also said that Mr Chappell sought to take his December 2015 salary early, ahead of departing on his family holiday to the Bahamas, and that this payment had been allowed on the basis of "hardship".

Mr Chappell responded to the claims in a statement saying that he had made a request for BHS to put flights on the company account as "an issue of logistics" and that the money was to be repaid, adding: "There was no intent whatsoever to have the company pay for my private travel."

He said the early payment of his December salary was "suggested by the BHS management" before he went away for Christmas.

Mr Chappell added: "At no stage have I ever used the company bank account as a private account for myself and all and every payment except two went through the normal BHS process and system."

He described Mr Topp's claims as "absolutely childish" as well as "pathetic and petty".

The collapse of BHS is being investigated by the Business, Innovations and Skills committee and the Work and Pensions committee.

Frank Field, chair of the Work and Pensions committee, said: "We are still elucidating the full story of the final collapse of BHS, but it happened under Dominic Chappell and RAL's stewardship.

"They should also account fully and properly for their decisions and actions, some of which appear quite extraordinary."

The letter comes as the Pension Protection Fund (PPF) - the "lifeboat" for failed retirement schemes - confirmed that it had appointed a second set of administrators, FRP, to oversee a winding down of BHS. Administrators at Duff & Phelps are currently overseeing the process.

It follows a Sky News report that the PPF had requested the move amid concerns about the complex web of ties connecting the company's former owners. The BHS pension deficit is now thought to be more than £600m.

Malcolm Weir, head of restructuring at the PPF, said: "This is an unusual step, but one we regard as appropriate given the circumstances of this administration."

UK Votes To Leave EU In Historic Referendum

2016 Sky UK
UK Votes To Leave EU In Historic Referendum
08:05, UK, Friday 24 June 2016
The UK has voted to leave the European Union in the historic referendum.
The Out campaign passed the winning post with a lead of more than one million votes - a margin of 51.9% to 48.1%.
The pound plummeted to a 31-year low as the market responded to the prospect of the UK splitting from Brussels after 43 years.
The Bank of England said it was monitoring the situation and would take "all necessary steps" to ensure financial stability.
Video: UK Votes Out: What Happens Next?
The result calls into question the future of the Prime Minister, who campaigned for In after calling the referendum.
UKIP leader Nigel Farage was the first party leader to speak following the result and said "we now need a Brexit government".
:: Live: Results And Reaction As UK Votes Out
However, more than 80 pro-Brexit Tory MPs, including Boris Johnson and Michael Gove, have signed a letter backing Mr Cameron to stay in Downing Street to negotiate our departure.
Video: Farage Declares 'Independence Day'
The Prime Minister is due to give a statement at 8.15am - with Out figurehead Mr Johnson not expected to speak until after that.
Labour has said Mr Cameron should "seriously consider his position".
The result could have huge implications for the UK , with Scotland's First Minister Nicola Sturgeon already raising the prospect of a second independence referendum after all 32 local authorities north of the border voted for Remain.
Sinn Fein sources also said Brexit should lead to a poll on Irish unity, after Northern Ireland voted by 56% to 44% to Remain.

Wednesday 22 June 2016

Painkiller That Killed Prince On The Rise In US

The drug that pop star Prince died from after an accidental overdose is at the centre of an emerging epidemic in America.
Fentanyl is up to 100 times more powerful than morphine, and 50 times more potent than heroin.
It has been used in hospitals for decades in the form of skin patches and lozenges to relieve extreme pain.
But now an illegal version is on the streets, and just a few grains of the white powder can kill a user before they've even finished injecting it.
Drug Enforcement Administration spokesperson Rusty Payne has told Sky News that fentanyl has become a particular problem in the last 18 months because illegal labs in China have worked out how to make it in large quantities.
Mexican cartels then buy it wholesale, and push it on the streets in America through their existing opiate trafficking networks.
For that reason, a lot of fentanyl is found in places with existing heroin problems, particularly in northern states like Massachusetts, New Hampshire and Pennsylvania.
It is also turning up in places like Ohio, Florida and Kentucky.
Mr Payne said: "We are seeing huge fentanyl seizures all over the North East, more than we've ever seen before, and a lot of times replacing heroin.
"You can stretch the fentanyl product much, much further than heroin.
"You could take a kilo of fentanyl and turn it in to 25 kilograms and make close to a million dollars, whereas with heroin you could make one or two hundred thousand dollars per kilo, when broken down and packaged.
"Fentanyl is a major problem, we would say that it's an epidemic, as is the entire opioid epidemic which includes heroin, prescription drugs and fentanyl."
An up-to-date national picture of the effects of fentanyl isn't really available because many hospitals and labs across America don't routinely test for it.
The latest country-wide figures from The Centers For Disease Control (CDC) are from two years ago.
The CDC reports that of all known cases in 2014, approximately 5,500 people died of overdose deaths involving synthetic opioids (including fentanyl) other than methodone.
That's an increase of 80% on the year before.
But in the New Hampshire state police crime lab they track fentanyl on a daily basis.
Often mixed in with heroin, it turns up in around half of the 750 monthly drug samples that get delivered there.
In 2015 alone, more than two thirds of all overdose deaths were fentanyl related.
Lab director Tim Pifer showed Sky News a few grains of white powder in a vial.
"That's enough fentanyl to kill you", he said.
"It's so dangerous because visually there's no difference between a heroin sample or a fentanyl sample.
"So the street dealers don't know what they're selling, the users don't know what they're really injecting in to themselves, even our undercover narcotics officers do not know what they're purchasing.
"These individuals who have addictions are literally playing with a loaded gun every time they put the needle in their arm."
Many people first take fentanyl without knowing it because the cheaper substance is often mixed with other drugs to increase profits for dealers.
But some who get hooked on the rapid, short-lived high actually seek it out.
That's what is happening with some addicts in Lawrence, Massachusetts.
The old mill town outside Boston has long been used as a hub for dealers and traffickers, and now fentanyl is compounding the crisis there.
Under the Casey Bridge a community of homeless people describe how they have struggled with it.
Mike and Brittany are expecting a baby in six weeks.
Former drug dealer Mike said: "All I've known my whole life is selling drugs and robbing people.
"It's (fentanyl) taking everything over, people are dying from it and it's so easy to make, it's so easy, cheap, moves quick, makes a lot of money, it's heaven for the dealers but it's hell for the users."
Kristen, who is struggling to recover from a fentanyl addiction, said: "You don't feel anything, you don't feel the pain of your past you don't feel any pain of the present, it consumes you.
"I've lost many friends, family members to fentanyl because of how it takes you, grips you, you know you end up losing everything."
Opioid addiction treatment nurse Ilia Castellanos said the fentanyl problem in Lawrence has become particularly bad in the past few months, but that it was not just an issue for homeless people.
She said: "These are mothers, teachers, social workers, nurses, the epidemic is touching everyone."
The Day Break homeless shelter in Lawrence is one of the last remaining 'wet' shelters in the state, meaning it admits people who are high or drunk.
Deputy manager Greg Davenport described fentanyl as just another harmful drug doing damage to an already vulnerable population that needs more support.
He said: "It gets to a point where it's not even so much as 'I want to feel good', it's that 'I don't want to be sick', and that's the sad part, because they're using against their own will at that point.
"I don't even know if everyone realises that."

House Democrats Stage Sit-In For Gun Control

Democrats have staged a highly unusual sit-in on the floor of the US House of Representatives to demand action on gun control.
The lawmakers occupied the podium area, refusing to leave until they secured a vote, as Republicans cut off cameras broadcasting the protest.
The protest has gone on late into the night, with the politicians shouting and chanting over Speaker Paul Ryan as he gavelled the House into session and tried to bring order.
Last week's shooting by an Islamic State sympathiser in Florida has reinvigorated calls for gun control in the US - and Democrats held photos of gun victims, along with their names, as they staged their sit-in.
'Where is our courage?' said Rep Lewis (centre)
Although the cameras in the House have been shut off, not-for-profit cable network C-SPAN has remained on the air by broadcasting live Periscope and Facebook feeds from the lawmakers demanding a vote.
Nearly 100 Democrats have been staging the demonstration led by Georgia Representative John Lewis, a veteran civil rights leader.
Video: Orlando Gunman Transcripts Released
"We have lost hundreds and thousands of innocent people to gun violence," said 76-year-old Mr Lewis.
"What has this body done? Nothing. We have turned a deaf ear to the blood of innocents.
"We are blind to a crisis. Where is our courage? How many more mothers and fathers need to shed tears of grief?"
Democrats accused Republicans of political cowardice and demanded Speaker Ryan keep the chamber in session through recess next week to vote on firearms legislation.

Teens 'Order Fast Food Deliveries At School'

Thursday 23 June 2016

Obesity campaigners are calling for new restrictions on fast food outlets after a survey revealed that one in four teenagers have ordered a takeaway to be delivered to their playground at school.
The Royal Society for Public Health (RSPH), which polled a small number of 13 to 18-year-olds for their perspective on childhood obesity, has warned further "hard-hitting measures" are needed to tackle the epidemic.
Their research suggests the majority of young people feel misled by the nutritional information displayed on food packaging, and want clear explanations on labels to help them make better dietary decisions.
Most believe labels should detail how many teaspoons of sugar are in soft drinks, as this is a more understandable measurement than grams.
Other proposals backed by those surveyed was a loyalty card to reward healthy food choices, or a simpler way of categorising food that is high in sugar, fat and salt - not dissimilar to the way films are certified as 12, 15 or 18.
Video: World Getting Fatter... And Fatter
Shirley Cramer, the chief executive of RSPH, said: "Our childhood obesity rates are disappointing, and tackling this must be a priority for government - there can be no excuses for fudging action on what is our number one public health challenge.
"While we welcome the Government's introduction of a sugar levy on soft drinks, it is absolutely critical that the forthcoming childhood obesity strategy builds on this positive step with a basket of hard-hitting measures, from greater controls on advertising and marketing of junk food to food reformulation."
Professor Neena Modi, president of the Royal College of Paediatrics and Child Health, described the quantity of children who order fast food at school as a "great cause for concern" - and said schools must be part of the solution.
Video: Cameron U-Turn On Sugar Tax
She added: "It is now well recognised and extremely worrying that UK children leave school more overweight than when they start.
"As child health professionals treating children with obesity-related conditions we urge government to note that young people themselves are asking for help."
The RSPH's report comes ahead of the Government's childhood obesity strategy, which is due to be published later in the summer.

Polls Open Across The UK In EU Referendum

Thursday 23 June 2016
Polls have opened across the UK in the historic referendum to decide whether Britain should remain in or leave the European Union.
The first people able to cast their ballot were in Gibraltar where polling stations opened at 6am UK time and will close at 9pm.
Across the UK, polls opened at 7am and will close at 10pm.
Around 46.5 million people are eligible to vote in the referendum
On the ballot paper, voters will be asked: "Should the United Kingdom remain a member of the European Union or leave the European Union?"
They will then choose whether they want to "Remain a member of the European Union" or "Leave the European Union" by placing a cross in the appropriate box.
:: EU Referendum: Sky News On-The-Night Guide
A record number of voters - some 46.5 million - are eligible to take part in the referendum, according to figures from the Electoral Commission.
Counting will begin as soon as polls close.
The country has been divided into 382 voting areas, each of which will declare its own result.
This is made of 380 local authorities across England, Wales and Scotland. Northern Ireland counts as one area, as does Gibraltar.
The overall result for the whole of the UK will be announced in Manchester, but only when all 382 areas have declared.
:: In or Out: Get all the results and reaction from the EU Referendum on Sky News from 9.30pm.

Mitsubishi forecasts huge loss in wake of fuel scandal

Mitsubishi Motors has forecast a net loss of 145bn yen ($1.4bn, £900m) for the current business year in the wake of its fuel efficiency scandal.
In April, the Japanese carmaker admitted it had been
falsifying fuel efficiency tests for decades.
The expected loss marks the first fall in profit for the car firm since the 2008 financial crisis.
Mitsubishi had already reported a 39% drop in net profit in the year to the end of March due to the fuel scandal.
In the wake of the scandal, some $3bn was wiped off its market value and in May fellow carmaker Nissan moved in to take a controlling stake.
Last week, Mitsubishi said it planned to give owners of four affected vehicles close to $1,000 in compensation for overstating the fuel efficiency of the cars.
In total, the reimbursement costs are estimated at at least $600m.
It also said it was setting aside as much as $86m to reimburse customers for lost "eco car" tax breaks for affected models.
Scandal, resignation, takeover
Mitsubishi Motors admitted it had rigged tests for the past 25 years.
Regulations changed in 1991 to better reflect stop-start urban driving, but Mitsubishi failed to heed the change.
In May the firm's president, Tetsuro Aikawa, stepped down in the wake of the scandal and following the takeover by Nissan.
Before the scandal, the carmaker was the sixth biggest in Japan and the 16th largest worldwide.
Annual car production currently stands at around 1,200,000 vehicles.

Unilever to use 'less sexist' ads

Adverts showing women unable to resist the lure of chocolate, slaving in the kitchen and going giggly at the sight of a man will be no more if consumer goods giant Unilever has its way.
The firm, behind more than 400 brands from Ben & Jerry's ice-cream to Dove soap, has pledged to remove sexist stereotypes from its own ads and called on rivals to follow suit.
Some 40% of women did not identify with their portrayal in adverts, it said.
The firm spends £6bn a year on adverts.
The figure makes it the second-biggest advertiser globally and chief marketing officer Keith Weed told the BBC this gave it a responsibility to push the change "on a broader society level".
He said the campaign, dubbed Unstereotype, was the culmination of two years of research.
This uncovered some "extraordinary things", including that women were largely portrayed in a secondary or service role, with just 3% of ads featuring women in managerial or professional roles.
Other findings revealed almost all women (90%) felt they were presented as sex symbols and almost a third (30%) said adverts showed women as perceived by a man.
"If we looked at role, personality and appearance, then they weren't representing women as they are today. Some of the imagery might have been current years ago, but it certainly wasn't today," said Mr Weed.
Unilever found half of the ads it analysed stereotyped both men and women, but initially, Mr Weed said, the firm planned to focus its efforts on a more realistic portrayal of women, at whom the majority of its products are targeted.
It has already started to change some of its adverts, with its stock cube Knorr campaign featuring men, rather than women, in the kitchen and its campaign for deodorant brand Lynx, known as Axe outside the UK, moving away from the stereotypical portrayal of a woman lusting after a man.
The firm was one of the first to use "real" women in its
Dove brand campaign more than a decade ago, which dramatically boosted sales by "billions of euros", and Mr Weed said this had given it early evidence of the business case for the change.
Christian Eichert, a marketing researcher at Cass Business School, said managing to shift its advertising was "complicated" for a global brand such as Unilever, which was trying to cater to a liberal audience while not alienating its conservative one.
He said humour and putting men and women on an equal footing was key.
"It's very difficult to pitch these progressive narratives while on the other hand claiming authenticity. It's empowering if [the adverts] allow consumers to play with boundaries without being perceived as not 'man enough' or 'not female enough'.
"In the end, the boy gets the girl. It's pretty much the same outcome, it's just the path that's changing," he said.
Many other firms from M&S to Debenhams have employed similar strategies, using more realistic role models in an attempt to boost sales.
Sport England's campaign called This Girl Can, aimed at helping encourage more women to take up exercise and featuring women of all shapes and sizes taking part in a variety of sports, was particularly successful, leading to 2.8 million 14-40 year old women saying they had done some or more activity as a result.
And increasingly there are signs that people are less willing to put up with traditional stereotypes.
An advert by weight loss shake firm Protein World last summer featuring a bikini-clad model and asking "Are you beach body ready?" sparked a huge backlash over alleged "body-shaming", including a protest in London's Hyde Park and a petition on Change.org that attracted more than 71,000 signatures.
Earlier this month the UK advertising watchdog launched a consultation on gender stereotyping in adverts to see if a change in rules was necessary.
The Advertising Standards Authority said it would consider a range of issues including the mocking of men and women in ads where they took on roles against stereotype and the presentation of an idealised or unrealistic body image.
"We're serious about making sure we're alive to changing attitudes and behaviours," said Guy Parker, chief executive of the ASA.
Heather Andrew, chief executive of Neuro-Insight, a firm which uses brain imaging to do market research, said social media had influenced advertising.
"The long-term rules of the advertising game have shifted. Social media uses real life situations and authentic portrayals do a lot better than stereotypes."
Ms Andrew said in the end the important thing was that firms were open-minded.
"In some circumstances, it's realistic to show mum cooking dinner. It's about seeking to portray the reality people see. Showing people doing normal things doesn't preclude using people in different ways."

Democrats hold Congress 'sit-in' protest to force gun control vote

Democrats in the US Congress are refusing to leave the floor of the House of Representatives in order to force a vote on gun control laws.
Nearly 100 lawmakers are staging the protest, demanding expanded background checks and the blocking of gun sales to terror suspects.
It follows the shooting of 49 people at a nightclub in Florida this month.
Republicans, who control Congress, called a recess which forced the cameras to be switched off.
So the protesters took their message online. Some are tweeting pictures and one Congressman is "broadcasting" via streaming app Periscope.
The effort is being led by John Lewis, a veteran of the civil rights movement of the 1960s.
Four bills since the attack in Orlando have failed to pass the Senate, but a compromise bill with some support from both parties is due to come before the Senate on Thursday.
President Barack Obama took to Twitter to thank Mr Lewis "for leading on gun violence where we need it most".
Legislators chanted "no bill, no break" and sang 1960s protest songs.
"What has this body done?'' to respond to the violence, Mr Lewis asked, referring to several failed efforts in the past week to pass a gun control bill.
"Nothing. We have turned a deaf ear to the blood of innocents. We are blind to a crisis. Where is our courage? How many more mothers... and fathers need to shed tears of grief?"
"Rise up Democrats, rise up Americans,'' Connecticut Representative John Larson said to his colleagues.
Connecticut is the state where 20 children and six adults were shot to death in 2012 at the Sandy Hook primary school.
"We will occupy this chamber," Mr Larson told his colleagues before cameras switched off.
A spokesperson for Paul Ryan, the Speaker of the House, tweeted: "The House cannot operate without members following the rules of the institution, so the House has recessed subject to the call of the chair."
The lawmakers want a vote to be held before the scheduled break at the end of the week, ending on 5 July.

Pension Lifeboat Wants New BHS Administrator

Wednesday 22 June 2016
By Mark Kleinman, City Editor
One of BHS's biggest creditors is demanding the appointment of a second administrator to the stricken retailer amid concerns about the complex web of ties connecting the company's former owners.
Sky News has learnt that the Pension Protection Fund (PPF), which acts as a safety net for employees of insolvent companies, has requested that FRP Advisory be appointed alongside Duff & Phelps following a meeting of creditors on Thursday.
The PPF, which has estimated that the cost to it of meeting BHS pensioners' retirement payments would be at least £275m, is understood to have lodged a proxy filing to place FRP's appointment on the agenda at that meeting in London.
If approved by a court, FRP would alongside Duff & Phelps, which said last month that attempts to find a buyer for BHS had been unsuccessful and that the company would be wound down, threatening 11,000 jobs.
The request from BHS's biggest unsecured creditor reflects its deepening concern about the crisis at the high street chain amid bitter recriminations centring on former owners Sir Philip Green and Dominic Chappell.
MPs have launched a wide-ranging inquiry into the circumstances surrounding BHS's collapse and on the stewardship of its pension schemes, which Sir Philip pledged last week to address.
To do so, he is likely to have to write a cheque for several hundred million pounds, although the precise structure of a rescue deal for pensioners is expected to take several months to finalise.
On a full buyout basis, the BHS pension deficit is now thought to be more than £600m.
FRP's appointment is expected to lead to it playing a role investigating the conduct of BHS's former directors, including those involved with the business before it was sold by Sir Philip to Mr Chappell's Retail Acquisitions Limited (RAL) last year.
Parliament has heard evidence of numerous secret payments, property transactions and negotiations aimed at fixing the yawning deficit in BHS's pension schemes.
During a hearing earlier this month, Mr Chappell alleged that Sir Philip had referred to Duff & Phelps as his "ponies", implying that the administrator would do the tycoon's bidding.
Both parties have rejected Mr Chappell's characterisation of that relationship, and Sir Philip denied that he had had any improper influence over the firm's appointment as the administrator to BHS.
The PPF has been keen for several weeks to see other advisers appointed alongside Duff & Phelps, although it would not comment on the source of its concern on Wednesday.
The MPs inquiry, which is running in tandem with probes by the Insolvency Services and Pensions Regulator, is awaiting replies to a series of questions about the ownership of Sir Philip's corporate empire.
Next week, they intend to hear from witnesses including Goldman Sachs bankers and Sir Philip's stepson.
Sir Philip had threatened not to appear before MPs unless Frank Field MP stepped down as chair of the Work and Pensions Select Committee, but turned up in Westminster anyway.
During a fractious hearing, the tycoon admitted making a mistake in selling BHS to RAL but placed much of the blame on Mr Chappell's failure to implement his business plan, and accused him of stripping the retailer of millions of pounds in unauthorised payments.
FRP was unavailable for comment while Duff & Phelps declined to comment.

Banks Warn Of Trading Issues Over EU Vote

Wednesday 22 June 2016
Banks and money transfer services are warning that a surge in market volatility surrounding Thursday's EU referendum may impact electronic trading platforms.
As holidaymakers flock to cash in on the strong pound, and buy their travel money ahead of the vote, a number of money transfer companies are suspending services.
Azimo and rival website Transferwise, have both announced they will be suspending trading on Thursday morning.
Many banks are also issuing warnings to clients, advising them to prepare for problems in trading, as they anticipate dramatic currency fluctuations in the event of Britain voting to leave the EU.
Investment bank UBS has told clients to prepare for possible hiccups and that some trades on electronic platforms could fail, due to the expected volatility and surge in trading volumes.
In its note to clients, UBS wrote: "In the event that extreme market moves occur, giving rise to limited liquidity in certain currencies, we may not be able to fill limit orders or take profit orders at the levels, or using the methodologies, expected in normally-functioning markets."
Dutch lender ING and French group Societe Generale have also been sounding the alarm and warning of market volatility and difficult trading conditions.
In a letter to its clients, Barclays says it is expecting disruption on its electronic trading platforms on Thursday and Friday, despite boosting its trading teams on referendum night.
HSBC said it will also be providing round-the-clock services. In a statement, the bank said: “With high-profile, market-moving events, we will have more staff working extended hours in one or more centres to make sure we can help our clients and manage our risk."
As money markets come under strain, the Bank of England is putting in extra resources to ensure banks have the cash they need, including foreign currencies.

Corbyn Risks Labour Division Over New City Tax

Wednesday 22 June 2016
By Elizabeth Rigby, Senior Political Correspondent
Jeremy Corbyn will force the Labour party to introduce a new tax on the City, in a move that pits the Labour leader against his newly elected mayor.
The Labour leader told activists at the party’s final Remain rally in London that a Labour government would introduce a financial transactions tax – dubbed the Robin Hood tax -- on the City, stoking simmering divisions between the left-wing leader and other senior figures in the party.
Standing side-by-side with London Mayor Sadiq Khan, who is publicly opposed to the measure, Mr Corbyn said the levy was “a very sensible proposal I am sure everybody in this building would agree with”.
Mr Corbyn’s decision to speak up for a policy he knows the London mayor opposes while the pair shared a public platform together, clearly irked Mr Khan, who told Sky News afterwards his opposition to any pan-European tax on financial trading was “quite clear”.
"I do not want a unilateral tax on businesses in our City," he said. "I am in favour of jobs, I am in favour of trade and investment."
But the Labour leader was equally robust in his response, telling Sky News that he would make the financial transaction tax Labour policy and suggesting his London mayor had better fall into line.
"Sadiq and I will be having some very interesting discussions about it," said Mr Corbyn. "I am sure he will come round to the idea. His whole campaign is about equality in London. It's about equality and justice and is about people paying their share."
Mr Khan said during his mayoral campaign he was publicly opposed to a financial transactions tax and said he wanted to be the "most business-friendly mayor of all time”, pitting himself against the Labour leader and shadow chancellor John McDonnell.
The public clash, coming on the final day of the referendum campaign, is a reminder that relations between the Labour leader and some of his most senior lieutenants remain strained.
The London mayor is a hugely powerful figure in the Labour party after being elected with the biggest-ever personal mandate but has jarred with Mr Corbyn in recent weeks. In his first major interview after being elected mayor in May, he warned Mr Corbyn Labour would never win a general election without trying to "reach out" to Tory voters.
Some in the Labour leader's team believe Mr Khan intends to use his base at City Hall – and the profile it gives him – to set up a rival power base. The Financial Transaction Tax could be the first piece of meaty policy where the pair lock horns.
The tax – first proposed in 2011 – aims to create a pan-European levy on the financial sector by imposing a small tax on almost all EU bond, share and derivative transactions. Supported by 11 eurozone countries, including France and Germany, the UK blocked the levy.
The tax – which was originally designed to raise £50bn – has long been opposed by the City, which has argued the tax would clog up markets and also warned the extra costs of it would be passed on to investors and consumers.
But Mr Corbyn attacked the Government for blocking the levy, which he claimed "would help prevent the sort of banking crisis we saw in 2008".
"Sadly, the British Government didn’t agree with it ... their answer (was) to rush across to Brussels with an army of lawyers in the Eurostar to threaten the EU with legal action if they vote for a transaction tax.
"I’ll tell you this: a Labour government wouldn’t do that, a Labour government would want a financial transaction tax, that is what we are saying."

One Of The 20 Satellites India Launched Was Made By This Chennai College

The satellite, built by Chennai's Sathyabama University, launched by ISRO on Tuesday, took 7 yearws to build.
by Taboola
Story Highlights
Chennai: Students and faculty at Chennai's Sathyabama University are happy. The 1.5 kilo satellite "Sathyabamasa" they built to collect data on greenhouse gases is now successfully orbiting the earth - one of the 20 satellites launched on Wednesday by ISRO's PSLV rocket.
The launch was the culmination of 7 years of hard work by the faculty and students. A base station, set up on the top floor of the university, is tracking the satellite - they say it is doing well.
Though an electronics student, Nehal has now made up his mind to pursue space technology.
"We learnt the basics all over again, but implementing them was a huge challenge. We failed many times and there were only a few successes, but success matters," he said.
Dr Vasanth, who heads the Department of Electronics, agreed. "A success of this kind might pave the way for a career in space technology," he added.
India's success has already drawn eyeballs and the frugal nature of ISRO only ensures a higher profit margin in the days to come as satellite launch market grows increasingly lucrative.
The business of putting commercial satellites into space for a fee is already a fast growing segment, with communication becoming hi-tech and cellphone and Internet usage growing exponentially.
The low-cost aspect reflected in the students' space project too - their satellite cost only Rs 1.5 crore. But for the students, the excitement of getting the opportunity over-rode everything.
Vice Chancellor Dr B Sheela Rani said, "The students themselves designed the satellite and it was a huge learning experience. They worked with the great scientists of ISRO".
Sathyabamasat would have a six-month life. The university plans to share all the pollution data its eye in the space would send with colleges and the Met office.
It was a dream project for the University's founder Dr Jeppiaar, who died a few days ago. "Although he's not with us to celebrate, he's watching the satellite from close quarters," Dr Sheela added.

Don't Write Me Off, I'll Be Around, Says Raghuram Rajan

Raghuram Rajan announced last week that he would return to academics after his current term at the RBI ends in September.
by Taboola
Story Highlights
Bengaluru: Taking a dig at those writing his "obituaries", Reserve Bank of India Governor Raghuram Rajan on Wednesday said he will be around "a lot in India" even after leaving the central bank and should not be written off as yet.
The comments come within days of Mr Rajan unexpectedly announcing that he will step down after his current three-year tenure at the RBI ends on September 4.
"I feel like in the last few days I have read a lot of my obituaries and I'm still here. I'm still here for two-and-half months in this job. After that I'm going to still be around somewhere in the world, probably a lot in India, so don't write me off," Mr Rajan said.
During a question-and-answer session, he further said, "The only thing I will say is that... I read these obituaries in the papers, I am still alive. I will leave this office in September, but I certainly will be coming in and out of the country on numerous occasions."
"I will be reading and writing and I will be speaking at fora like this," said Mr Rajan, who has been hailed as a 'rockstar' central banker for containing inflation and checking rupee volatility despite global headwinds.
Mr Rajan, the former chief economist at the International Monetary Fund (IMF) who is credited for predicting the 2008 global financial crisis, made this observation at the start of his speech at an interactive industry meet organised by business chamber Assocham.
Amid political attacks and criticism from some quarters of the Bharatiya Janata Party for not lowering interest rates enough to boost economy, Mr Rajan had on Saturday announced that he would return to academics after his term ends, putting at rest all speculation over his continuance.

North Korea Test-Fires Two Mid-Range Missiles

Kim Jong-Un visiting a cornstarch factory a few days ago. Pic: File
From Sky News
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North Korea Test-Fires Two Mid-Range Missiles
06:28, UK, Wednesday 22 June 2016
North Korea has launched two mid-range missiles off its eastern coast, even though such attempts are banned by the UN.
South Korean and US officials have said the first rocket failed over the Sea of Japan.
A second missile was test-fired hours later, and reportedly flew for 400km (248 miles) before it fell.
Pyongyang has now unsuccessfully attempted to launch six Musudan missiles, which could be capable of striking targets across South Korea and Japan, as well as US military bases as far away as Guam.
The rockets have a range of anywhere between 1,550 and 2,500 miles.
Japanese politicians have described the tests as a "grave provocative action", with the country's prime minister warning such ballistic missile launches "clearly cannot be tolerated".
The US has stressed the missiles never posed a threat to North America, but a State Department spokesman condemned the launches.
Meanwhile, South Korea's presidential office is holding a security meeting to discuss the launches.
Defence officials in Seoul say Pyongyang's previous attempts have resulted in the missiles crashing or exploding in mid-air shortly after launch.
North Korea is banned from using any type of ballistic missile technology, but has regularly fired short-range rockets from its eastern coast.
The isolated state has been trying to intimidate neighbours with its ongoing nuclear weapons programme, which is said to have the ultimate aim of developing a missile that could reach the US.
Intelligence suggests North Korea has more than 30 Musudan missiles in its arsenal, yet it hasn't attempted to test-fire them until this year.
In January, the White House cast doubt on North Korea's claim to have conducted its first "successful" test of a miniature hydrogen bomb.
Pyongyang said the detonation was a "historic" event, but White House press secretary Josh Earnest said US analysis was "not consistent" with the claim.

North Korea Test-Fires Two Mid-Range Missiles

2016 Sky UK
North Korea Test-Fires Two Mid-Range Missiles
06:28, UK, Wednesday 22 June 2016
North Korea has launched two mid-range missiles off its eastern coast, even though such attempts are banned by the UN.
South Korean and US officials have said the first rocket failed over the Sea of Japan.
A second missile was test-fired hours later, and reportedly flew for 400km (248 miles) before it fell.
Pyongyang has now unsuccessfully attempted to launch six Musudan missiles, which could be capable of striking targets across South Korea and Japan, as well as US military bases as far away as Guam.
The rockets have a range of anywhere between 1,550 and 2,500 miles.
Japanese politicians have described the tests as a "grave provocative action", with the country's prime minister warning such ballistic missile launches "clearly cannot be tolerated".
The US has stressed the missiles never posed a threat to North America, but a State Department spokesman condemned the launches.
Meanwhile, South Korea's presidential office is holding a security meeting to discuss the launches.
Defence officials in Seoul say Pyongyang's previous attempts have resulted in the missiles crashing or exploding in mid-air shortly after launch.
North Korea is banned from using any type of ballistic missile technology, but has regularly fired short-range rockets from its eastern coast.
The isolated state has been trying to intimidate neighbours with its ongoing nuclear weapons programme, which is said to have the ultimate aim of developing a missile that could reach the US.
Intelligence suggests North Korea has more than 30 Musudan missiles in its arsenal, yet it hasn't attempted to test-fire them until this year.
In January, the White House cast doubt on North Korea's claim to have conducted its first "successful" test of a miniature hydrogen bomb.
Pyongyang said the detonation was a "historic" event, but White House press secretary Josh Earnest said US analysis was "not consistent" with the claim.

North Korea Test-Fires Two Mid-Range Missiles

Demand For Travel Money Surges Ahead Of Vote

The Post Office says foreign currency sales have surged as holidaymakers rush to buy their travel money ahead of tomorrow's EU referendum vote.
It said overall currency sales had increased 74% year-on-year since the weekend, with online purchases up 381% and branch sales 48.8%.
A spokeswoman for Post Office Travel Money, which covers one in four foreign exchange transactions in the UK, said most customers were exchanging pounds for a mixture of euros and dollars.
"Currency sales remain buoyant and are up 36% year-on-year for June to date in Post Office branches, online and through purchases on its pre-paid travel money card," the company said.
"This rises to a dramatic growth of 154% for currency purchases made online."
Sterling has fluctuated in value amid the market volatility surrounding the EU referendum. After reaching a seven-week high on Monday, it is currently at $1.47, but forecasters predict it could plummet to $1.30 if Britain votes to leave the bloc.
The chief economist at the international money transfer specialist HiFX, Chris Towner, suggests using a prepaid currency card, which permits users to credit it with cash now to use abroad later, could be a good option for those wishing to take advantage of the current exchange rate.

Cameron's Business Aides Split Over EU Letter

Simon Segars of ARM Holdings is among those who did not sign pro-EU letter
From Sky News
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Cameron's Business Aides Split Over EU Letter
13:32, UK, Wednesday 22 June 2016
By Mark Kleinman, City Editor
Nearly half of David Cameron's closest business advisers have declined to sign a letter backing the UK's membership of the European Union despite an "aggressive" push by In campaigners to corral last-ditch support from the private sector.
Sky News can reveal that nine of the 20 members of the Prime Minister's Business Advisory Group (BAG) - including the bosses of ARM Holdings, Land Securities and Legal & General - were absent from the list of nearly 1,300 signatories on Wednesday.
The letter - published in The Times - did include representatives from more than half of Britain's biggest listed companies as well as prominent entrepreneurs such as Sir Richard Branson and major international investors in the UK.
However, the disclosure that almost half of the BAG's members declined to sign it is understood to have frustrated Downing Street officials with polls continuing to indicate that the referendum's outcome remains finely poised.
The nine members of Mr Cameron's BAG who did not sign the letter were: Ana Botin, chairman of Santander; Jeff Fairburn, the CEO of housebuilder Persimmon; Liv Garfield, chief executive of Severn Trent; the Chinese internet tycoon Jack Ma, who runs Alibaba Group; Robert Noel, Land Securities' boss; Simon Segars of ARM Holdings; Steve Varley, who runs the professional services firm EY; Steve Wadey, chief executive of the QinetiQ; and Nigel Wilson of Legal and General.
A source close to the process of gathering signatures for the letter pointed out that many of the nine executives have previously expressed pro-EU sentiments but that corporate policy dictated that they could not sign the letter.
However, a number of BAG members, such as the Whitbread chief executive Alison Brittain signed it in a personal capacity.
Alongside Ms Brittain, the BAG members who did sign the letter were: Eileen Burbidge, a partner at the technology investor Passion Capital; Asda boss Andy Clarke; Bob Dudley of BP; Warren East, who runs Rolls Royce; Jayne-Anne Gadhia, chief executive of Virgin Money; David Joseph, the Universal Music executive; Carolyn McCall, chief executive of EasyJet; John Nelson, who chairs Lloyd’s of London; Xavier Rolet, boss of the London Stock Exchange Group; and Paul Walsh, chairman of Compass Group.
Ms Botin was not asked to sign the letter and two of her UK-based colleagues had signed instead, the source added, while Mr Ma had also not been sounded out about adding his name.
Mr Segars and Mr Noel are among those who have previously talked about the benefits of EU membership.
In an interview with the Financial Times on Wednesday, Mr Cameron acknowledged that it "can sometimes be frustrating that organisations feel constrained and say they can’t take sides or put their heads over the parapet”.
A source close to him suggested it was logical to assume that he was in part referring to some of his business advisers.
In the letter, the details of which were revealed by Sky News last week , business leaders warned that "leaving the EU would mean having to re-establish terms of trade from scratch with our home market of 500m consumers".
It went on to say that "smaller businesses and the people they employ are particularly vulnerable to any economic shock which could follow a vote to leave the EU", and that Brexit would "mean uncertainty for our firms, less trade with Europe and fewer jobs".
Some executives have complained that the letter says little that was not contained in a similar one published at the start of the referendum campaign.
And others said that In campaigners had been "aggressive" in their efforts to persuade them to sign.
One business leader, who declined to be named, said that Downing Street officials had been "shouty" and "furious" when he indicated that he was not prepared to sign the letter.
Boris Johnson, the former London mayor who is campaigning to leave the EU, said this week that a Downing Street "operation" was being deployed to "lean on" business leaders.
In recent weeks, major employers such as Airbus, BT Group, Diageo and JP Morgan have told their workforces that the economic risks of leaving include the loss of UK jobs and investment.

More Than 1,280 Business Leaders Urge Remain

2016 Sky UK
More Than 1,280 Business Leaders Urge Remain
12:54, UK, Wednesday 22 June 2016
By Jon Craig, Chief Political Correspondent
Remain campaigners are claiming a coup after winning the backing of 1,285 business leaders on the final day of the EU referendum campaign.
The firms, employing 1.75 million people in large, medium and small businesses, have written an open letter saying Britain's economy is better off in Europe.
They include 50 FTSE-100 companies and 910 smaller firms, from salt makers in Anglesey and dairy farmers in Devon to printers in Antrim and whisky distilleries in the Scottish Highlands.
And the top backers include Virgin boss Sir Richard Branson, Sir Charles Dunstone, of Carphone Warehouse, Jacqueline Gold, of Anne Summers, and Cobra beer baron Lord Bilimoria.
In their letter, first revealed by Sky News City Editor Mark Kleinman earlier this month , the business leaders write: "We know our firms are stronger in Europe.
Video: Bosses On Brexit - A Boardroom View
"Our reasons are straightforward: businesses and their employees benefit massively from being able to trade inside the world's largest single market without barriers.
"As business people, we are always looking to the future – and a future inside the European Union is where we see more opportunities for investment, growth and new jobs."
They continue: "We know that Britain leaving the EU would mean having to re-establish terms of trade from scratch with our home market of 500 million consumers. That wouldn't just hurt exporters but the hundreds of thousands of small and medium firms who do business with them.
:: Cameron's Business Aides Split Over EU Letter
"Even those that want Britain to leave say that, in the short term, Brexit would lead to economic uncertainty and would put jobs at risk. Smaller businesses and the people they employ are particularly vulnerable to any economic shock which could follow a vote to leave the EU.
"Britain leaving the EU would mean uncertainty for our firms, less trade with Europe and fewer jobs. Britain remaining in the EU would mean the opposite – more certainty, more trade and more jobs.
Video: What Both Sides Say On The Economy
"EU membership is good for business and good for British jobs. That's why, on June 23rd, we back Britain remaining in the EU."
Remain campaigners claim the big show of support from UK businesses puts to bed the claim of Leave campaigners that business is split on the Europe issue.
In the letter they say: "Businesses and their employees benefit massively from being able to trade inside the world's largest single market."
And they claim the Leave campaign lacks an economic plan for Britain. Leaving the EU, they say, could cause an "economic shock" that would hurt British businesses.
:: Time To Decide: A special programme on the eve of the EU referendum with Dermot Murnaghan tonight from 10pm
:: In Or Out: Get all the results and reaction from the EU referendum from 9.30pm on Thursday

North Korea Test-Fires Two Mid-Range Missiles

North Korea has launched two mid-range missiles off its eastern coast, even though such attempts are banned by the UN.
South Korean and US officials have said the first rocket failed over the Sea of Japan.
A second missile was test-fired hours later, and reportedly flew for 400km (248 miles) before it fell.
Pyongyang has now unsuccessfully attempted to launch six Musudan missiles, which could be capable of striking targets across South Korea and Japan, as well as US military bases as far away as Guam.
The rockets have a range of anywhere between 1,550 and 2,500 miles.
Japanese politicians have described the tests as a "grave provocative action", with the country's prime minister warning such ballistic missile launches "clearly cannot be tolerated".
The US has stressed the missiles never posed a threat to North America, but a State Department spokesman condemned the launches.
Meanwhile, South Korea's presidential office is holding a security meeting to discuss the launches.
Defence officials in Seoul say Pyongyang's previous attempts have resulted in the missiles crashing or exploding in mid-air shortly after launch.
North Korea is banned from using any type of ballistic missile technology, but has regularly fired short-range rockets from its eastern coast.
The isolated state has been trying to intimidate neighbours with its ongoing nuclear weapons programme, which is said to have the ultimate aim of developing a missile that could reach the US.
Intelligence suggests North Korea has more than 30 Musudan missiles in its arsenal, yet it hasn't attempted to test-fire them until this year.
In January, the White House cast doubt on North Korea's claim to have conducted its first "successful" test of a miniature hydrogen bomb.
Pyongyang said the detonation was a "historic" event, but White House press secretary Josh Earnest said US analysis was "not consistent" with the claim.

Still Undecided? The Key Claims In 90 Seconds

Here are the key claims made by the Remain and Leave campaigns.
:: ECONOMY
REMAIN says the EU accounts for 44% of British exports. World's largest trading block. We don't know what trade agreement would be put in place if the UK leaves.
LEAVE says the UK spends £350m a week on payments to the EU and the UK could shift focus to emerging economies and the Commonwealth.
:: IMMIGRATION
REMAIN says EU immigrants pay more in taxes than they take out, immigration provides a boost to the economy and the UK has to accept free movement for access to the single market.
LEAVE says immigration is uncontrollable and public services are strained. Internal EU migration is running at near record levels, meanwhile countries such as Turkey could join and create more pressure.
:: SOVEREIGNTY
REMAIN says the UK can veto laws in important areas and has influence in drawing up EU-wide legislation. They say the trade-off is having influence in the modern world.
LEAVE says the EU now makes the majority of British laws and regulations. Other EU members can force through laws the UK doesn't want, often over-ruling the will of Parliament.
Video: What Both Sides Say On Powers
:: SECURITY
REMAIN says the EU promotes "peace and stability", shares security intelligence and we can use the European Arrest Warrant to remove individuals who have committed crimes.
LEAVE says EU citizens have the right to free movement and so it is easier for terrorists and weapons to reach the UK as part of the EU.
:: JOBS
REMAIN says leaving the European Union would cause a serious shock to the UK economy that could lead to 950,000 job losses.
Video: What Both Sides Say On Security
LEAVE says there could be some initial job losses but, longer term, Brexit will help create jobs as it will remove red tape on businesses from Brussels.
:: COST OF LIVING
REMAIN says families would be £4,300 worse off after exit, and the prices of goods and services - from food to the cost of airline travel - would increase as the pound would slump.
LEAVE says the cost of living would fall in a Brexit as we would import goods at "world prices" rather than inflated "EU prices".
:: NHS
Video: Confused? The Referendum Mapped Out
REMAIN says future funding for the NHS is dependent on a growing economy. Downturn in the event of a Brexit would mean cuts to public spending, which would affect the NHS.
LEAVE says a British exit from the EU would free-up an extra £100m per week to spend on the NHS by 2020.
:: Time To Decide: A special programme on the eve of the EU Referendum with Dermot Murnaghan on Wednesday from 10pm
:: In or Out: Get all the results and reaction from the EU Referendum from 9.30pm on Thursday

PM: Gove Has 'Lost It' Over Nazi Comparisons

UK, Wednesday 22 June 2016
David Cameron has told Sky News that Michael Gove has "lost it" after he compared economic experts warning about the impact of Brexit to the Nazis smearing Albert Einstein in the 1930s.
Speaking to Sky's Political Editor Faisal Islam, the Prime Minister hit out at Mr Gove's remarks as he joined political rivals on a battle-bus tour to promise a "bigger, better Britain" if voters opt for continued EU membership on Thursday.
On the Leave side, standard-bearer Boris Johnson is travelling across the country to tell voters that 23 June can be "independence day", as polls indicate the result is on a knife-edge.
Mr Johnson said it was "time to break away from the failing and dysfunctional EU system", telling activists in Maldon, Essex: "I do think that we are on the verge, possibly, of an extraordinary event in the history of our country and indeed in the whole of Europe.
"It's all going to be about getting our supporters out to vote and if we do it I really think tomorrow can be independence day."
Video: Sir John Major Campaigns For Remain
:: EU Vote: Are You A Brintrovert Or A Brextrovert?
In an interview with Sky, the former London mayor said the vote was about "democracy and about our ability to govern ourselves as a country," warning things will "get steadily worse" unless Britain "takes back control".
A confident sounding PM told Sky he was giving it his all with less than 24 hours to go until polls open - and also hit out at his Cabinet colleague.
He said: "Well it's obviously a very close fight and I'm putting everything into it.
"Today we're going around and actually getting people - nurses, doctors, farmers, small businesses, entrepreneurs - coming onto this bus and explaining why they want to stay in.
"Because there's an amazingly wide range of people, we've got Harriet Harman here, we've got the Labour Party, the Green Party, the Liberal Democrats, a Conservative government, the trade unions, small businesses, large businesses, and a huge amount of expert opinion.
Video: Sky News Poll Of Polls
"And to hear the Leave campaign today sort of comparing independent experts and economists to sort of Nazi sympathisers … I think they have rather lost it.
"These people are independent - economists who have won Nobel prizes, business leaders responsible for creating thousands of jobs, institutions that were set up after the war to try to provide independent advice. It is right to listen."
In a joint statement, three respected economic think-tanks said "almost all those who have looked seriously" at the consequences of Brexit agreed it would be highly likely to hit the living standards of UK households.
The Institute for Fiscal Studies (IFS), National Institute of Economic and Social Research (NIESR) and Centre for Economic Performance (CEP) said: "In our lifetimes we have never seen such a degree of unanimity among economists on a major policy issue."
They also rejected suggestions from Vote Leave they were biased because they receive EU funding or Government support, stressing: "What we publish and say is not, and never has been, influenced by our funding.
"None of our funding is dependent on being either pro-EU or pro-government - as our frequent vocal criticisms of each in the past should make clear."
Video: 90 Second EU Referendum Campaign
Mr Gove, the Justice Secretary in Mr Cameron's Cabinet, had claimed experts cannot always be trusted, and pointed to the German scientists used to denounce Einstein.
He told radio station LBC: "We have to be careful about historical comparisons, but Albert Einstein during the 1930s was denounced by the German authorities for being wrong and his theories were denounced, and one of the reasons of course he was denounced was because he was Jewish."
In a separate interview the PM said Mr Gove had made a "massive mistake", but said it would not be difficult to work with him against post-referendum.
Mr Johnson backed Mr Gove in the wake of the comments, telling BBC Radio 4: "Michael Gove has run an absolutely fantastic campaign and he is right in what he says, I think.
"Some of these experts, they totally failed to foresee the crash of 2008. They got it 100% wrong."